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Some of the world's best urban planners, academics and policy makers are in Sydney to discuss the future of Sydney's Bays Precinct with community representatives.
The public land on Sydney's inner harbour is four times as large as Barangaroo.
Among the experts in attendance is Dutch urban planner Riek Bakker, who told the summit today that trust was central to the development of any city.
<a href="https://www.propertyobserver.com.au/https://twitter.com/emfarrelly/status/535220408841437187" target="_blank"><img src="/images/2014/11/20/tweet-nov-20-one.jpg" alt=""></a>
Her comments, noted by writer and architecture critic Elizabeth Farrelly, were made two days after State Treasurer Andrew Constance said 16,000 dwellings were expected for the site.
The government has since backed away Constance's statement, with Planning Minister Pru Goward saying the government never set a 16,000-residence target.
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jrichardson-uRX5hFdKfN

Tweet of the day: Riek Bakker at the Bays Precinct International Summit

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Australia ranks 16th out of the G20 nations for debt as a proportion of total Gross Domestic Product (GDP).
Comparison website <a href="https://www.finder.com.au/" target="_blank">Finder</a> compiled a list of the 20 nations, comparing their total and national debt, proportion of debt to GDP and debt per person.
Australia, with the lowest population of any G20 nation, has $23,769 worth of debt per person. Among the G20 nations, our proportion of national debt to GDP is relatively low. Australia's total debt equals 32.6% of GDP, the fifth lowest result. Only India, Russia, Saudi Arabia and China have a lower level of debt to GDP.
On a per person basis, we rank ninth, with $23,769 of debt for each member of our 23.1 million strong population. Australia is the smallest of the G20 nations.
Japan has both the highest national debt per person and as a proportion of GDP. The country recorded $101,305 worth of debt for every person, with debt more than doubling GDP at 226.1%.
India, with a population of 1.3 billion, has the lowest per person debt, with just $783. However, its debt as a proportion of GDP ranks 10th on the list, recorded at 51.8%.
Unsurprisingly, the European Union has the highest total debt, with 28 member states contributing to the $16.8 trillion figure.
Click the infographic below to see how Australia's debt level compares, on a national and per person basis.
<a href="/images/2014/11/20/finpernation.jpg" target="_blank"><img src="/images/2014/11/20/finpernation.jpg" alt=""></a>
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Infographic: How Australia’s debt compares to the other G20 nations

EXCLUSIVE: Negative gearing – what needs to change?

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Some real estate photographers manage to make a room look twice as big, twice as bright and, most importantly, twice as expensive.
<a href="https://www.propertyobserver.com.au/https://twitter.com/joshgondelman/status/534830598469476352" target="_blank"><img src="/images/2014/11/19/tweet-nov-19-one.png" alt=""></a>
But no matter how long the lens or how proficient you are at Photoshop, sometimes, there's just not that much to work with. That doesn't stop some photographers and agents from giving it a red hot go, as Last Week Tonight With John Oliver web producer Josh Gondelman has noticed.
The empty corner shot is a Property Observer favourite, along with <a href="/news/artistically-advertised-properties-can-these-photos-really-help-sell">gratuitous fancy food</a>, hyper-coloured skies, garden statues and <a href="/expert-insights/investing/five-of-the-most-bizarre-property-listings-from-looney-listing">taxidermy</a>.
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Tweet of the day: Those tricky angles

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NAME: Neil Cooke<img src="/images/2014/11/19/cooke-nov-19-profile.png" alt="" style="float: right;">
POSITION: Divisional director - residential site sales
COMPANY: Savills
OFFICE LOCATION: L7, 50 Bridge Street, Sydney
How long have you been in the industry? 
20 years
What's happening in the area you specialise in?
I specialise in the Sydney residential market which has been very strong over the past few years and is continuing to show positive signs for the future. The undersupply and market trend to buy apartments will underpin stable price growth for many years to come.
Describe the most interesting property you have worked on? 
A boutique residential apartment building of 29 Apartments called ESQUE in Mosman. The project was completed in October 2013 and has recently been awarded the UDIA NSW Best Apartment Project and the UDIA NSW Presidents Award for the 'best of the best' development for 2014. The project was a great success for everyone involved. 
What are the ingredients to being successful in your job? 
Diligence, motivation, integrity and most importantly a sense of humour. 
What aspects of your role do you enjoy the most?
You get to meet a lot of different people and no day is the same as the last. 
Where would you invest a spare $750,000? 
I would purchase an apartment in HELM's soon to be released development in Neutral Bay, Sydney.
Which football team do you support?
The Waratahs and the mighty Manly Sea Eagles.
What's your favourite app or techno gadget?
<a href="https://www.strava.com/" target="_blank">Strava</a>. Although my friends would say it doesn't get used much.
How do you use social media? 
My friends and colleagues would laugh if I said I was active on social media.
You can contact Neil via <a href="mailto:ncooke@savills.com.au" target="_blank">email</a>.
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In profile: Savills' divisional director - residential site sales, Neil Cooke

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Consumers and industry professionals rate Australia's mortgage market positively, according to a Genworth survey released today.
However, the survey did point to declining first home buyer loans, according to Bridget Sakr, Genworth chief commercial officer.
"While the overall health of the market was seen as good, the survey suggested that first home buyers comprise 10.5% of all lender originated loans and 18.9% of all broker originated loans which supports arguments that this group is finding it increasingly difficult to enter the housing market," said Sakr.
The Genworth survey suggested first home buyers are almost twice as likely to use an intermediary like a broker, rather than directly approaching a lender, than other borrowers.
Although the market overall was rated highly, 36% of consumers surveyed were concerned about consumer housing debt, while lenders surveyed were less concerned.
"While our Home Grown report suggests that the market is in good health, characterised by robust competition and a supportive cash rate setting, concerns around market access for first home buyers highlight the value of low deposit options such as Lenders Mortgage Insurance," said Sakr.
Supermarkets were seen as the market players with the most potential to influence Australia's mortgage industry.
"In last year's research, lenders felt that online operators and superannuation funds were most likely to have the largest impact on the market," Sakr noted.
"In 2014 we have seen a change in this situation, with 37% of lenders now believing that market entry by supermarket groups would most likely have the largest impact on the market while at the same time downgrading the potential influence of online competitors and superannuation funds," she said.
The majority of respondents also believed the current overnight cash rate of 2.5% is appropriate, with the cash rate, government policy and lender funding mix seen as having the greatest influence on the state of the mortgage market.
"Lenders and brokers agreed that APRA's [Australian Prudential  Regulation Authority] current regulatory position strikes the right balance between responsible lending and access to housing credit," said Sakr.
"They also believe that current levels of consumer debt are not a cause for concern.
"While it is acknowledged that rate rises or a correction in property prices could change this assessment, industry experts predict stable interest rates over the next year and believe that factors such as population growth and supply constraints may put a floor underneath property prices over the short term," she said.
More than 1,200 respondents were surveyed for the 2014 Home Grown: Mortgage Industry Perspectives report.
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Annual survey gives Australian mortgage market a clean bill of health

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Heritage character homes have a lot of charm, but many investors may wonder whether they're worth the hassle.
They can prove to be valuable assets, given their rarity. There is a fixed amount of colonial era stock on the market and the owner of a circa 1820 home won't need to worry about an oversupplied market when it's time to sell. Many of Australia's heritage properties are also located in well established suburbs which deliver strong fundamental value to the local homes.
Living in and maintaining a heritage house can also be a rewarding experience for owners, given their beauty and histories.
But for owners who want to update their homes, reconfigure them or subdivide, heritage restrictions can prove both costly and time consuming.
Local councils may enforce heritage overlay protections for houses or sites considered significant to the local area's heritage.
Not every property considered a "heritage place" by council will have rigid restrictions to changes. If you own a house with a heritage overlay, however, you may need a permit to demolish or remove any part of a building, subdivide land, carry out construction like fence building, display any signs, or paint any external unpainted surfaces. While the exact protections vary between councils and for individual buildings, there may also be restrictions to external re-painting, internal changes and trees on the property.
Earlier this year, Cherie Barber of Renovating for Profit told Property Observer investors must understand exactly what kind of heritage protection exists over the property, noting the difference between heritage listed properties, and those that fall within heritage and conservation precincts.
"One is individual, and one is blanket," said Barber, with entire suburbs often considered heritage and conservation precincts.
"The council is saying, 'we're going to be very particular about the development in the suburb. We want all the houses to retain the underlying fabric of the suburb.' So they're very particular about the exterior. Those properties usually don't have any restrictions on what you can do internally."
Although properties in heritage and conservation precincts may not have all the restrictions that apply to individual heritage listed properties, renovating them can still be a costly process.
To obtain approval for changes to a property, renovators and investors are often expected to provide reports from experts in heritage constructions, at their own cost. The process is often also laborious – Barber advised renovators of heritage suburbs to expect delays with paperwork.
"The typical lead time in approvals is four to nine months in my suburb, and each report can be thousands of dollars," she said. In Barber's experience, reports alone sometimes cost as much as a renovation, with $70,000 spent on reports for an extension for a property in a heritage and conservation precinct – despite the fact the property itself wasn't heritage listed.
For those anticipating a tussle with council over a renovation – which may be decided in a court – it's worth building the cost of consultants, experts, reports and legal proceedings into your renovation. Architects, heritage experts and town planners, who can all provide you valuable advice, can also all charge heavily for the service.
If a heritage renovation dispute does make it to Land and Environment courts, Barber said with expert witnesses charging $250 to $300 an hour, costs can spiral to close to $100,000.
The process isn't for the faint hearted – or those without some major capital.
"For newbie investors, that's the stuff that can send you bankrupt," said Barber.
The variance between councils, states and individual properties can also make the process difficult, with some having more lax or strict controls than others. The unpredictability of councils and the subjectivity of their terms can throw up unexpected roadblocks for owners – ones that are both difficult to navigate, and difficult to afford.
The process, Barber said, is not one for the beginner renovator – nor someone who's hoping to work alone.
"You've got to be savvy," she said.
"You need a good team of professional experts around you. You have your trade team and your professional team – 'the suits'– your town planner, your architect, your lawyer, your structural engineer. And when you're working on a heritage property, you're going to need the suits more than the trade team," said Barber.
Picture: Fortuna Villa in Bendigo, picked as one of Property Observer's <a href="https://www.propertyobserver.com.au/new-south-wales/top-four-heritage-properties/2013093065369" target="_blank">favourite heritage properties</a> covered throughout 2013
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Buying heritage homes: Worthy asset or time consuming hindrance?

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A fire damaged St Peters home will be auctioned this weekend.
The house at <a href="https://www.realestate.com.au/property-house-nsw-st+peters-118283099" target="_blank">81 Frederick Street, St Peters</a> exhibits significant burns, with soot blackening the interiors and façade. Photos above show one room completely ruined, with a collapsed ceiling.
Selling agents Santos Sulfaro and Frank Sulfaro of Richardson &amp; Wrench Leichhardt are expecting the home will attract around $650,000 when auctioned on Saturday morning by Damien Cooley.
The three bedroom, one bathroom house is being marketed as a blank canvas with renovation or development potential – albeit rather dramatically, as seen in the video titled Fire Sale below.
{qtube vid:=EFF3Cojzuw0}
The owner is reportedly a former IT worker who isn't able to claim insurance for the fire after allegations it was deliberately lit by an unidentified occupant who faces court next week, according to <a href="https://news.domain.com.au/domain/real-estate-news/firedamaged-st-peters-house-listed-for-650000-20141029-11cyz6" target="_blank">Domain</a>. He paid $290,000 for the freestanding brick house in 1998.
Police confirmed to media a 55 year old man was due to appear in court on 1 December, facing charges of contravening an apprehended violence order and damaging a property by fire.
 <img src="/images/2014/11/19/306.JPG" alt="">
Above: The home in healthier condition, 2004.
According to the listing, despite "dramatic fire damage" to the hallway and one bedroom, the other areas are mostly only affected by soot.
The house, on 195 square metres, has a recently renovated bathroom, metal press ceilings, timber floors and tessellated tiles. Its $650,000 guidance prices it well below its neighbours – the median price of <a href="/news">St Peters </a>house in October was $1,212,000, according to RP Data. Last week, an unrenovated three bedroom brick home in St Peters <a href="https://www.realestate.com.au/property-house-nsw-st+peters-118222391" target="_blank">sold for $800,000</a>.
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Catching fire: St Peters’ burnt offering

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New South Wales home owners' rights to claim compensation for structural defects in their home will be reduced after legislative changes that will soon take effect.
Currently, the NSW government grants a six-year warranty for "structural defects" made by developers or builders. The warranty now only covers "major defects", which the government defines as those that cause "the inability to inhabit or use the building (or part of the building) for its intended purpose," or "the destruction of the building or any part of the building" or "a threat of collapse" of the building or any of its parts.
Some speculate that the downgraded scope of the warranty will result in only a two year warranty being granted for many defects which were previously covered for six years.
According to David Bannerman of Bannerman Lawyers, the changes will mean home owners will no longer be compensated for issues such as external cracking, reducing costs for the government.
"The relief to the Government coffers should be immediate, because it has taken the extraordinary step of making many of the amendments, including the change from 'structural' to 'major' defects, retrospective," claimed Bannerman.
The changes introduced in the Home Building Amendment Act 2014 are likely to come into effect on 1 December.
For home owners who wish to make claims for building defects made within the past six years, Bannerman advised they take the following action before 1 December:
<ol>
<li>Commence legal proceedings against the builder or developer responsible for their home, where there is an available action for breach of the warranties (i.e. building defects), or</li>
<li>Where the circumstances and policy terms allow, lodge a claim with the home owner's warranty insurer.</li>
</ol>
Source: Bannerman Lawyers
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NSW home owners' dodgy construction claims curbed by government

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While Melbourne piles on the apartments, their price growth continues to be outpaced by houses.
<a href="https://www.propertyobserver.com.au/https://twitter.com/cmkusher/status/534483644421648384" target="_blank"><img src="/images/2014/11/18/tweet-nov-18-one.jpg" alt=""></a>
Observer Cameron Kusher, senior research analyst at CoreLogic (formerly known as RP Data), noted that house values increased by 4.5% plus in the past five years, compared to just 2.9% plus growth in the unit market.
For more on Melbourne's apartment construction boom, read: <a href="/news/vic/exclusive-does-melbourne-have-an-oversupply-problem">Exclusive: Does Melbourne have an oversupply problem?</a>
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Tweet of the day: Melbourne unit price growth outstripped by houses

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

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Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

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More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

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Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

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<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

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The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

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Jessie Richardson

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